What is Asaak?

Asaak makes it easy for people in Uganda to access a loan, anytime, anywhere. Complete our application in seconds and receive your loan straight into your mobile money or bank account. Asaak is like a bank in your pocket, there for you at all times.

Where is Asaak located?

Asaak has offices in Soroti & Kampala, Uganda and San Francisco, United States.

How do I get the latest version of the Asaak app?

You can follow this link and click "Update". Or you can go to Google Play, search for “Asaak” then click “Update”.

Which networks does Asaak support?

Airtel & MTN

Can I call an Asaak representative or visit an office?

You can call us here. Depending on where you are, you can visit us in either our Kampala or Soroti branch.

How do I download the Asaak app from outside of the Play Store?

Click here. You will be directed to an outside source to download the Asaak app, to apply for a loan within minutes. Please visit the "Apply" page for instructions.


How can I contact my client relations officer?

Your dedicated CRO will contact you directly during the application stage of your loan. You will have their direct contact information. You can also contact your appropriate branch and we will route the call to your CRO.

How do I validate my mobile number?

Once you enter your mobile number, our system will send you a code to that number via sms. Then, you can enter that code into the app to verify your number.

How do I change my personal details?

You can always click "Edit" on your application at any time. After your loan is disbursed, you can have your CRO update any information for you, unless you are applying for a new loan.


How can I increase my chances of being accepted?

You can increase your chances of being approved by repaying all loans on-time, by having consistent cash flows in your business and having enough collateral to secure your loan.

How long does the application take?

The initial application from start to finish will take 5-10 minutes. Then our dedicated Client Relations Officers will reach out to you directly to process the rest of the loan, which can take 2-3 business days.

How does Asaak make lending decisions?

Asaak combines data about you and your business to make lending decisions. This information includes financial transactions, answers from the application and collateral information. We combine this with your Asaak repayment history to build an individualised credit score, which determines the loan offers you receive.

What is required to receive an Asaak loan?

Requirements are simple - all you need to apply is a phone number, a National ID, a mobile money or bank account and collateral to secure your loan. We encrypt all data, so you can be sure that everything you share is safe.


What is the interest rate?

The interest rate will range from 2% to 7% per month, depending on the nature of the business and your Asaak credit score.

When can I apply for a higher amount?

After successfully repaying your first loan, you will unlock a higher credit limit. With each on-time repayment, Asaak will give you better terms as a thank you for being a great borrower.

How much can I borrow?

You can borrow as much as 100M UGX. We will work with you to determine the needs of your business.

How do I apply for a loan?

You can apply for a loan by downloading the Asaak app here. In addition, you can always come into one of our branches, which can be found here.


Can I repay early?

Yes! You can and should repay early when possible. We will reward you with bonuses and discounts on future payments by repaying early.

How can I get a repayment schedule?

Your repayment schedule is availble in the Asaak app, under the menu labeled "Payment".

How can I repay my loan?

You can repay your loan in a few of ways. You can text "asaak pay" to  6115, which will prompt you to choose payment amount and confirm by entering your pin. Alternatively, you can navigate to the Payment section within the Asaak app and make an easy payment that way. We also accept payment by bank account, via RTGS or EFT. If you ever have any troubles, one of our CROs would be happy to help


Will Asaak sell my security?

Asaak will work with you to make sure you can repay your loan, so we don't have to take ownership of your security or collateral. In the case of default, however, we may have to take ownership of the collateral in order to recoup the loan amount.

Does Asaak report to the CRB?

Asaak does report to the CRB, currently operated by Metropol in Uganda. We want to encourage Asaak customers to repay on-time to build their credit histories.

What is a Credit Reference Bureau?

A Credit Reference Bureau (CRB) collects credit information on individuals and can provide your repayment performance data to banks, lenders, and potential employers. CRBs help promote financial inclusion and prevent over indebtedness.

Can I request to pay at a later date?

You may speak with your Asaak CRO to check if changing your payment schedule is possible. We want your Asaak loan to work for you!

What will happen if I miss my repayment?

If you miss a payment, your Asaak CRO will follow up with you to make sure everything is okay. We understand this may happen from time to time, but we do expect 100% of your payments to be made on time.


What is your privacy policy?

You can view our privacy and terms of conditions here.

Can I trust Asaak with my security?

Asaak does not want to own your security. We want you to be a lifelong customer and build a lasting, trusting relationship with us. We will never sell your security without prior authorization.

Can I trust Asaak with my data?

We use world-class data security and encryption techniques to protect the data you share with us. Asaak never shares your information with third parties unless it is for dedicated business purposes, such as reporting defaulted loans to authorized credit bureaus. We do not sell your data or credit profile.